A joint venture of Singapore-listed Metro Holdings, private equity firm TE Capital Partners and US real estate investment management firm LaSalle Investment has acquired VisionCrest Commercial for about $450 million. The purchase…
Category: News-At-A-Glance
IOI Properties’ Lee Yeow Seng snaps up Shenton House for S$538 million
Shenton House, located in Singapore’s Central Business District, has been successfully sold for S$538 million. The building was relaunched for public tender in October. The buyer is Shenton 101 Pte Ltd, a…
Cut in land betterment charge rates for non-landed housing
For the first time in three years, the government has cut land betterment charge (LBC) rates for non-landed residential use. Developers pay an LBC for the right to enhance the use of…
Investment market seeing more buzz for office buildings, malls and hotels
With borrowing costs seen to be peaking, some investors are eyeing pockets of opportunities, including potential for exits via strata sales, asset repositioning, or simply taking a longer-term view. In the financial…
Anti-money laundering blitz: 10 foreigners charged over crimes linked to about $1b in cash, assets
Ten foreign nationals from countries including China, Turkey and Cambodia were charged in court on 16 August 2023 over their suspected involvement in offences including forgery, money laundering and resisting arrest. These foreign…
HDB to launch new Plus flats at choicer locations with 10-year MOP, stricter conditions
All new BTO flats launched from the second half of 2024 will be classified into one of three categories – Prime, Plus or Standard – to reflect the changing housing landscape, said…
Singapore avoids technical recession in Q2 with economy growing 0.3% quarter on quarter
Singapore’s economy expanded by 0.3 per cent in the second quarter of 2023 from the previous three months, narrowly avoiding a technical recession or two consecutive quarters of contraction. Gross domestic product…
Government increased supply of private homes for full-year 2023 to highest in a decade
Responding to the strong private residential demand, the government is further increasing the supply of private homes on the confirmed list to about 5,160 units – including 560 executive condominium (EC) units…
URA eyes rezoning of land parcels in 6 areas for housing
May 2023 URA has recently submitted proposed amendments to the Master Plan 2019 to the Minister (National Development) for approval. Land parcels in Lavender, Woodlands, Woodlands North, Whampoa, Kallang and Jalan Jurong…
Singapore Turf Club to close Kranji racecourse by March 2027 to make way for housing, other uses
June, 2023 The government announced on June 5, 2023, that the Singapore Turf Club’s current site in Kranji will be returned to the government by March 2027 to make way for housing…